Air Transport Services Group (NASDAQ:ATSG) cut to fit at

Air Transport Services Group (NASDAQ:ATSG – Get a Rating) was downgraded by from a “buy” rating to a “hold” rating in a research report released Thursday to clients and investors.

Other analysts have also released reports on the company. Stephens raised his price target on Air Transport Services Group from $34.00 to $40.00 and gave the company an “overweight” rating in a Wednesday, March 2 research note. Cowen raised its price target on Air Transport Services Group from $31.00 to $40.00 in a Monday, May 9 research note. Truist Financial raised its price target on Air Transport Services Group from $35.00 to $40.00 in a Monday, February 28 research note. Finally, Cowen raised its price target on Air Transport Services Group from $31.00 to $40.00 in a Monday, May 9 research note.

Shares of ATSG were down $1.72 during Thursday trading hours, hitting $30.30. 338,164 shares of the company were traded, against an average volume of 440,871. The company has a market capitalization of $2.25 billion, a price-earnings ratio of 11.14 and a beta of 0.54. Air Transport Services Group has a fifty-two week minimum of $21.42 and a fifty-two week maximum of $34.54. The company has a quick ratio of 0.89, a current ratio of 1.04 and a debt ratio of 0.94. The company’s fifty-day moving average is $30.73 and its 200-day moving average is $29.48.

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Air Transport Services Group (NASDAQ:ATSG – Get Rating) last released its results on Thursday, May 5. The transportation company reported earnings per share (EPS) of $0.56 for the quarter, beating the consensus estimate of $0.45 by $0.11. The company posted revenue of $485.86 million for the quarter, versus analyst estimates of $474.93 million. Air Transport Services Group achieved a return on equity of 13.30% and a net margin of 12.96%. Airline Services Group quarterly revenue increased 29.2% year-over-year. During the same period a year earlier, the company posted EPS of $0.19. Analysts expect Air Transport Services Group to post EPS of 1.98 for the current year.

In other Air Transport Services Group news, insider Michael L. Berger sold 7,240 shares of the company in a trade that took place on Wednesday, March 16. The stock was sold at an average price of $31.80, for a total value of $230,232.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, director Jeffrey J. Vorholt acquired 2,000 shares of Air Transport Services Group in a transaction on Friday, March 25. The shares were purchased at an average cost of $32.94 per share, with a total value of $65,880.00. Disclosure of this purchase can be found here. In the past 90 days, insiders bought 2,635 shares of the company worth $84,652 and sold 11,365 shares worth $359,808. 1.70% of the shares are held by insiders of the company.

Several large investors have recently changed their positions in ATSG. During the fourth quarter, Rinkey Investments acquired a new position in shares of Air Transport Services Group worth approximately $42,000. Catalyst Capital Advisors LLC bought a new position in Air Transport Services Group in the first quarter worth $45,000. Zullo Investment Group Inc. acquired a new position in Air Transport Services Group in the fourth quarter worth $88,000. The Public Employees Retirement System of Ohio increased its position in Air Transport Services Group by 12.9% in the fourth quarter. The Ohio Public Employees Retirement System now owns 3,813 shares of the transportation company worth $112,000 after buying 435 additional shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Air Transport Services Group in the fourth quarter worth $140,000. 93.34% of the shares are currently held by institutional investors.

Airline Services Group Company Profile (Get a rating)

Air Transport Services Group, Inc, together with its subsidiaries, provides aircraft leasing and air cargo transportation and related services in the United States and abroad. The Company offers aircraft, flight crew, aircraft maintenance, aircraft hull and liability and aviation fuel insurance; and aircraft maintenance and modification services, including airframe modification and heavy maintenance, component repairs, engineering services and aircraft line maintenance.

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